# Oil market braces for volatility as supply glut fears drag Brent to 9-month low | S&P Global

> Crude futures slid to a nine-month low as bets grew that Libyan supply disruptions would be short-lived. NYMEX front-month crude settled at $69.20 a barrel and ICE Brent at $72.70, while Platts assessed physical Dated Brent at $75.83 on Sept. 3.

- Date: 2024-09-04 · published 2024-09-04T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11571-oil-market-braces-for-volatility-as-supply-glut-fears-drag-brent-to-9-month-low
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of a supply glut and weaker demand point to continued downward pressure on crude, which lowers energy and logistics costs for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2024-09-06 | 5 | -9.2% | -3.0 | Supply glut fears as Libyan disruptions looked short-lived dragged Brent to a nine-month low. |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/090424-oil-market-braces-for-volatility-as-supply-glut-fears-drag-brent-to-9-month-low

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.